SA records FDI outflows of R16.5bn in third quarter

South Africa recorded foreign direct investment (FDI) outflows of R16.5 billion ($1.1 billion) in the third quarter, as local subsidiaries repaid loans to foreign parent companies, the central bank said on Tuesday.

That compares to FDI inflows of R17.4 billion in the second quarter, the South African Reserve Bank said in its Quarterly Bulletin.

The last time South Africa registered FDI outflows was in the fourth quarter of 2018, with outflows of R3.2 billion.

Portfolio investments, reflecting a record of buying and selling of securities such as bonds and shares, registered outflows of R28.8 billion in the July-September quarter compared to outflows of R54.8 billion in the prior quarter.